Mixed-Use Building With
1023 S MAIN Street Aberdeen, SD 57401
1023 S MAIN Street, Aberdeen, SD, 57401
$295,000
For Sale
$295,000
COMMERCIAL - Aberdeen, SD
Property Size3,504 SF
Price / SF$84.19
Days on Market67
Property Features for 1023 S MAIN Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 3,504 SF
Taxes and HOA fees
- Tax Description
- LOT 7 BLOCK 39 THOMAS ADDITION BROWN COUNTY, SOUTH DAKOTA
- Tax Annual Amount
- 3335
Building Details
- Year built
- 1900
Listing agency
Century 21 Northern Advantage
(605) 225-7179
Listed by
Ashton Davis · License #SD20519
(605) 225-7179
Added: May 17 Updated: Jun 3 at 5:11PM Checked: Jul 22 at 5:06AM
MLS# 26-62
Copyright © 2026 Aberdeen Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property features an older “Dempsey’s” building with a residential apartment located above the main commercial space. The apartment is described as a 2-bedroom, 1-bath layout. The sale also includes personal property availability, which may support an operator who wants to start using the building soon after closing.
The building is located on South Main Street in Aberdeen, South Dakota. The provided remarks indicate the location is intended to support getting a business started at the property.
For tenants, buyers, or operators seeking a single structure that can support a storefront or other business use with on-site residential income, the combination of commercial space below and a 2 bed / 1 bath apartment above is the key feature. Because personal property availability is noted with the sale, it may be important to confirm what is included prior to scheduling a showing.
The building is located on South Main Street in Aberdeen, South Dakota. The provided remarks indicate the location is intended to support getting a business started at the property.
For tenants, buyers, or operators seeking a single structure that can support a storefront or other business use with on-site residential income, the combination of commercial space below and a 2 bed / 1 bath apartment above is the key feature. Because personal property availability is noted with the sale, it may be important to confirm what is included prior to scheduling a showing.
Key Highlights
- Located on South Main Street, a desirable Aberdeen business location.
- Includes an income‑producing 2‑bedroom/1‑bathroom apartment.
- Personal property is available with the sale.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.1k | $9.72 |
| − Vacancy | −$3.5k | −$0.99 |
| EGI | $30.6k | $8.73 |
| − OpEx | −$13.8k | −$3.93 |
| NOI | $16.8k | $4.80 |
3,504 SF · lease $9.72/SF/yr · vacancy 10.14% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$240.5K
$210.4K – $280.6K
NOI $16,833 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$611.8K
$535.3K – $713.8K
NOI $42,826 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Danger von Dempsey's ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Versatile commercial building with an income-producing apartment above for combined business and rental use.
Where is this single family property located?
The property is located at 1023 S MAIN Street Aberdeen, SD.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Located on South Main Street, a desirable Aberdeen business location.; Includes an income‑producing 2‑bedroom/1‑bathroom apartment.; Personal property is available with the sale.
